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Article: Decorize, Inc. Announces Major Recapitalization and Name Change.
- Article from:
- PR Newswire
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Shareholders Agree to Convert $3,000,000 of Debt to Equity
SPRINGFIELD, Mo., Nov. 5 /PRNewswire-FirstCall/ -- Decorize, Inc. a recognized leader in the home furnishings and accessories industry announced a major recapitalization of the Company and a name change to GuildMaster, Inc.
The Company, now known as GuildMaster, Inc., recently concluded a major recapitalization with the backing of its largest shareholders. The recapitalization allowed the Company to shed more than $3,000,000 of debt and all of its outstanding preferred stock in exchange for equity. The exchange, which occurred concurrent with the reverse stock split described below, was priced ...